Transfer Personal Loans, Store and Credit Cards

Transfer Personal Loans, Store and Credit Cards

Citi are the only issuer in Australia that accept personal loan debt as part or all of the balance transfer e.g. car loans. 1.5% BT fee added on balance transfer amount and attracts no interest for 26 months. Transfer up to 3 non-Citi issued personal loans, store and/or credit cards.

Purchase rate

20.99%p.a.

Balance transfer

0%26 months

0% Complete (success)

reverts to 21.74% p.a.1.5% fee applies

Annual fee

$0first year

199% Complete (success)

then $199 p.a.

Citi are the only issuer in Australia that accept personal loan debt as part or all of the balance transfer e.g. car loans. 1.5% BT fee added on balance transfer amount and attracts no interest for 26 months. Transfer up to 3 non-Citi issued personal loans, store and/or credit cards. Apply by 31 May 19

Your savings

How this is calculated

The calculation is for illustrative purposes only.

You only pay the minimum monthly payment of the overall balance each month.

The annual fee for most credit cards is charged in the first month.

You are not spending or drawing cash advances on the card until the balance transfer period ends or is paid in full.

Excludes other fees and charges that may apply such as late payment fees.

When there is no interest savings or a negative interest saving after the promo period the calculator will display $0.

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$saved over 26 months

20.99%

p.a

Purchase rate

20.99%p.a.

20.99% Complete (success)

0%

26 months

reverts to 21.74% p.a.1.5% fee applies

Balance transfer

0%26 months

0% Complete (success)

reverts to 21.74% p.a.1.5% fee applies

$0

first year

then $199 p.a.

Annual fee

$0first year

199% Complete (success)

then $199 p.a.

$saved over 26 months

This is the amount you could save if you balance transfer your current credit card debt. T&Cs apply.

How this is calculated

The calculation is for illustrative purposes only.

You only pay the minimum monthly payment of the overall balance each month.

The annual fee for most credit cards is charged in the first month.

You are not spending or drawing cash advances on the card until the balance transfer period ends or is paid in full.

Excludes other fees and charges that may apply such as late payment fees.

When there is no interest savings or a negative interest saving after the promo period the calculator will display $0.

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Credit Card Experts

We are the credit card experts. Our founder started online credit card comparison in Australia in 2005. He still answers all the questions on the site. Let CreditCard.com.au guide you on your credit card journey.

Roland Bleyerfounder“I have extensive knowledge about credit cards in Australia and am known as a credit card expert. I have been featured in 2019 on tv and in various publications. I personally answer all questions to help you select a better suited credit card. “

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Notes from the CreditCard.com.au founder

I receive streams of questions every day from people just like you wanting to know more about credit cards or how to use them better. The truth is that only a small percentage of the population actually understand credit cards and how to get the best out of them. Knowledge is power and frankly its difficult to cut through all the sales hype and really work out what card would be best for your personal situation. That’s why I have just created Credit Card EDU. An online place where you can study a range of credit card topics anytime on mobile, tablet or desktop. Please let me know what you think and congratulations if you pass the final exam and receive your certificate.

Things to think about

For a range of people coming to this site their purpose will be very clear. Many will look for a balance transfer offer where they can move current debt to a new bank and pay a low rate. Others will be simply looking for the lowest purchase rate, others are sick of paying an annual fee and will look at for a no annual fee offer. Though seeming very straight forward in the beginning, it still makes sense to step back and review your own situation and uses for your credit card or range of them. On top of this you need to regularly review your card(s) and see if your needs, features and/or competitor offers have changed dramatically whereby it makes sense to switch.

Many people put credit cards in the too hard basket. How much time have you spent over the past 12 months reviewing your financial products and where they sit in the market? We just take what we have and just use them how we need to at the time. If you could save hundreds, even thousands of dollars a year how much time would you be willing to put in?

Looking for the right credit card

There are core questions that you need to answer before you start comparing credit cards. Firstly, do you pay off your balance in full each month? This is of critical importance, there is no sense earning reward points on a high interest credit card, when your interest payments alone far outstrip any of the benefits.

Secondly, how much are you likely to spend on average over a monthly period? It is important to get a clear understanding how you are going to use your card. Monthly spends are an important factor when looking at rewards or frequent flyer cards. You need to assess your spend, say $20,000 a year, then look at what actual rewards (not points) you would get from various cards based on your spend.

Thirdly, what sort of credit card deals or bonuses would be most useful for me? Banks are fighting for business more and more. These days you can get great deals on bonus points, no annual fee and 0% credit card rates. This varies all the time so it’s a good idea to review the market over a period of time, rather than just jumping into things. Though if an offer is right for you or too good to be true then it probably won’t last very long. Great offers come to market and sometimes leave as quickly as they came. Though the market appears to becoming more stable with offers typically staying around for a number of months before they expire.

Lastly, there are a multitude of special features on cards. What credit card features could you use on a regular basis? Many people don’t even know what kind of features they could expect. Here is a list of some main features that could be of interest: 0% intro period on purchases or balance transfers, domestic and overseas travel insurance inc car rental excess cover, airport lounge passes, free nights in hotels, various reward point earning, concierge and complimentary flights. Travelers seem to benefit most from credit cards and they usually will have more to think about over people that are not interested in those types of features.

Bottom line is that it’s hard to find a credit card that will suit all your needs. I love to travel and have 3 cards that I use personally at this point in time for different reasons. You need to make sure that you are getting more benefit out of your card or cards than you are paying for. Credit cards can be a great financial tool when used correctly or miserable if you rack up high debt that you can never pay off. Thanks for visiting my site and best of luck with finding the right credit card for your needs. If you have any questions, reach out and I will try and answer them as best as I can.

Use credit cards wisely thanks to our free online courses

I receive streams of questions every day from people just like you wanting to know more about credit cards or how to use them better. The truth is that only a small percentage of the population actually understand credit cards and how to get the best out of them. Knowledge is power and frankly its difficult to cut through all the sales hype and really work out what card would be best for your personal situation. That’s why I created Credit Card EDU. An online place where you can study a range of credit card topics anytime on mobile, tablet or desktop. Please let me know what you think and congratulations if you pass the final exam and receive your certificate.

What to look for in a credit card

Looking at how you use your card will tell you what features in a credit card that works best for you.

If you pay off your balance in full each billing cycle. This gives you access to interest free days on most cards. Paying off your card each month will also assist you in avoiding interest. If you are this type of credit card user. Then the interest rate should not be a concern. You should be looking at cards that will earn rewards on your spent. Look at features that you will use e.g. overseas travel insurance. Map out your average monthly spend to see what rewards card could be right for you.

If you currently have credit card debt. Then a balance transfer could be an option for you.

Firstly, what is a balance transfer? You currently have credit card debt. You are approved for a new balance transfer credit card. Your new bank makes a payment on your behalf off your old card. The debt is transferred from your old card to your new card.You receive a special interest rate, typically 0% for up to 2 years.

Some key points are that a balance transfer must be between different banks e.g. Commbank to Westpac. You can only transfer your own debt – not your partners or family. The simple online application process takes around 10-15 mins. You must have good credit to get approved for a new balance transfer credit card.

If you are not spending much on your credit card or use it very infrequently. Then it's likely that a no annual fee or low annual fee product could suit. These cards tend to have interest rates around 20%. So if you do hold a balance this is still a concern. Though if you do pay off your balance in full each billing cycle. Then not paying an annual fee can work in your favour.

Australian’s spend over one million dollars a day just on credit card foreign fees. If you like to travel or spend online in overseas currencies. Then you should look at a card that offers no foreign fees on purchases. An important point is to also understand what exchange rate the card is using.

18 questions (showing the latest 10 Q&As)

18 questions (Displaying latest Q&A)

Tiffany

22 May 2019

I have a small business and looking at getting a credit card for my business. I am currently setup as a sole trader with ABN and registered gst
Which product do you recommend for me please
Abn 78009417122
Pet Waggin Pet Transport
Thanks
Tiffany
0424 617 149

Roland

23 May 2019

Hi Tiffany, key factors are how much you spend a month. What % can be on AMEX (if any) and what type of rewards you are after. With 0% for the first 12 months on purchases. This NAB Low Rate Business could work. No rewards though. For Qantas points earning on a Visa. AMEX delivers by far the highest rewards points in the business category. So AMEX could work let me know and I can provide suggestions. Also if you could provide an approx monthly spend on the card.

John

22 May 2019

Hi roland, firstly thanku for your time,. Secondly I'm a property investor with many properties so most of my current quarterly large spending are on items such as rates, utilities and insurances. My quarterly spend overall would amount to at least $30000. So with most spending on government bodies (rates and utilities) which card would be best for collecting points or miles. Looking also for lounge access and whatever other freebies. We are planning to do a fair bit of international travel over the next few years
Cheers

Roland

22 May 2019

Hi John, its a tough one. AMEX or some business cards are the only ones that will provide points on government spend. Though the points earned can be negated by any surcharges that are placed on that spend. So you need to do the math and see whether its worth using a credit card or not. I like earning Qantas points, so I have the AMEX Qantas Ultimate. The earn rate from AMEX is 0.5 point per $1 spent. Business cards can open you to Visa/Mastercard with points earning on gov.

V

11 May 2019

Hi Roland, you mentioned that you used your mobile when you go online to pay each and every week while traveling to protect yourself against any frauds.Have you considered any possibilities that when arriving to a location to encounter issues with internet connection? If you are suggesting going to an internet cafe, consider that by logging at an internet cafe onto your personal financial account, you are already opening doors for your account to be compromised.For us having a debit card, we are putting in money to save for the travel and safeguard ourselves in carrying too much hardcash to be robbed. It is not us going away for just one or two days, it can be for months and we need to know that the money that we have there will see us through. Going away on holidays mean to enjoy ourselves instead of spending our time at internet cafes or constantly being reminded on going online to make payments. Please note that not everyone has that luxury and time to go online every week religiously.How can you expect anyone to religiously access their accounts to make payments while on holidays unless you are implying that you are one of those people traveling by fully packaged tours - luxury hotels and fully provided tours without any travel logistics to be concern about on a daily basis.

Roland

13 May 2019

Hi V, I always have global roaming on my mobile. So I have access to a local carrier and 4G (when available) whilst I am traveling. Everyone is different. I travel for months at a time. I have lived in Europe, America and other places. I have road tripped, I have travelled in many different ways. Your financial responsibility is up to you. I pay my cards off in full each week or so while travelling. I have backup sources of funds in cards and in debit. Plus other bank accounts I can transfer. I like to keep some cash with me at all times. Everyone is different. You do whatever you think is right for you.

Ida

4 May 2019

I would like to apply for a lombardo credit card but having difficulty getting the link

Roland

Afaq Ahmad Khan

16 April 2019

This is a test from home?

Roland

3 April 2019

hi there

Evan

31 March 2019

Can I get approval for credit even if I started a new job as a casual recently

Roland

1 April 2019

Hi Evan, I would suggest you wait until you are at least 3 months into your employment. I would say a better amount of time would be 6 months. I think it would be difficult to get approved for a new credit card with a new job. Read our credit card application tips.

Roland

26 March 2019

Hi Hassan, it will depend on the type of rewards (program) you are after. I have the American Express Qantas Ultimate. It does meet your requirements. Let me know if this card does not suit for your needs.

Site Disclaimer: The credit cards compared on this page are chosen from a range that CreditCard.com.au has access to track applications from and is not representative of all the credit card products available in the market. The product information provided cannot be considered comprehensive and may not contain all the features relevant to you. We also provide information on a range of cards that we do not have ability to track but believe have impact on the Australian credit card market. The use of terms 'Best' or 'Top' are not product ratings and are subject to our Terms and Conditions of Use. This is general advice only and may not be right for you. Read the provider's Product Disclosure Statement. You should always consider seeking independent financial advice and your personal financial circumstances when comparing credit card products. Interest rates and fees and charges are subject to change without notice. Reasonable efforts are made to maintain accurate information. However, information is presented without warranty. When you click on the 'Apply Now' button you will have an opportunity to review the credit card terms and conditions on the credit card issuer's web site. Even though we provide information on credit cards in Australia we are not a credit provider nor are we suggesting that you apply for any particular product from any of the credit card providers listed. Please refer to our credit guide for more information.

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